S75: Why the bank is better than crypto

8-June-2024 | Fireside Chat (Ep 8)

This is Sirflex speaking, Your Host! GM everybody, i officially welcome you today's space.

FIRESIDE CHAT (EP 8)

Bitcoin Statistic Today MarketCap : $1.367Trn Price : $69,464.06 Volume: $36.33B

In today's series, I have one poll & one question for you.

// POLL QUESTION
if you have 100% capital, what kind of risk will you take? 
1. i will buy coins that wont make me loss money
2. I will risk small, reserve the rest  
4. Go Hard or Go Home    

// QUESTION (ENGAGING) 
what kind of investment return is realistic to you
1. huge return, stake 100 to gain 1m
2. 20-50% return every 3 month
3. 10% return every two month is ok

The Bank is better than Crypto

Ever since i met crypto, i have always looked at what makes crypto better, and those arguement is valid! like, Oh!! crypto removes middle men, crypto gives you full control over you data and money, crypto this, crypto that. but wait!!

let's do the calms and zoom out, and let's look at this from bank's perspective.

ICEBREAKER

CBN revoke Heritage Bank's license because there financial performance is a treat to national financial stability. meanwhile Heritage bank was founded in 1970s as societal generale, they brought in the use of ATM.

What is more concerning is that Customers & stakeholders money will be settled by NDIC, Nigeria Deposit insurance Co-orperation. as they are the liquidator named by regulators Now, liquidator is an organisation with the legal authority to act on behalf of a company to sell the company’s assets before the said firm closes, in a bid to raise capital for various purposes such as debt repayment. NDIC will pay all customer whoses fund are within the N5M within the space of 3 month. then if your money is more than 5M, you will have to wait for NDIC to sell off the BANK asset to pay customer.

EXPLAINER: Heritage Bank's licence revoked — what happens to depositors, shareholders? | TheCableTheCable

While cryptocurrencies offer certain advantages, such as decentralization and potential for high returns, traditional banks provide unparalleled security, stability, accessibility, legal protection, and economic integration. For most consumers, the peace of mind and practical benefits offered by banks outweigh the speculative allure of cryptocurrencies.

!! How do you think the Bank is better than the Crypto?

Remember the rules

1. Engage the polls, engage the comment section, and show reactions so we can all have a wonderful experience today.

2. Today's series is sponsored by SIRFITECH,

At the end of today's series, we must have been able to

1. Benefits of the Banks

2. Benefits of Crypto

3. Finding a Balance

Welcome to Breakfast w/ Blockchain

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Let's get started

As we get started i will like to reference the 60k minimum wage even though the proposed minimum wage is 105k. i saw a tweet on the street of twitter that said if minimum wage is 105k, she will sell a loaf of bread for 10,500.

What do you think about the minimum wage and the effect it will have on inflation ?

discourage public service jobs,

NIBBS:

Comrade of the week

Conclusion

If you don’t believe me or don’t get it, I do not have the time to try to convince you, sorry! -Satoshi Nakamoto (July 2010) Price of bitcoin: $0.08